Oil prices fall more than 1% as Secretary of State Blinken pushes for Gaza cease-fire
Publishing timestamp: 2024-04-29 11:43:07
Summary
Israel is waiting for Hamas to respond to a cease-fire proposal, which could potentially ease geopolitical risk premium factored into oil prices. Oil prices slipped on Monday as U.S. Secretary of State made diplomatic efforts in the Middle East. Exxon and Chevron reported decline in profits due to collapse in natural gas prices. Analysts believe the oil market is coiling for a potential big move, with some predicting a risk of upside move. Various financial institutions are giving their outlook on the energy sector and commodities market.
Sentiment: NEUTRAL
Tickers: @CL.1, @LCO.1, @NG.1, %40RB.1?QSEARCHTERM=%40RB,
Keywords: natural gas (mar'23), ice brent crude (apr'23), investment strategy, oil and gas, business news, markets, wti crude (mar'23), breaking news: markets,
Source: https://www.cnbc.com/2024/04/29/crude-oil-prices-today.html